CEO is held accountable for the performance and the result of a company. Among multi-functions that CEO is accountable for, though certain functions can be delegated to subordinates, there are such tasks that only CEOs can do:
- Whilst in a company there are Directors in charge of branches, business units and shared services (CFO, CIO, HR Director, Legal Counsel), these Directors have more focused responsibilities and thus narrower view. As the leader of the company, CEO has broader view – both about company’ strengths, weaknesses and market opportunities. On this basis, CEO set overall strategy for the company over stages of development and lead the execution: How to structure the company? Which market segments should the company target? What are the key product lines? Where the company should invest in? What are the company’s priorities? What are the risks of the company and how to manage them ?
- When a project requires the participation of various business units, CEO is a Project Manager to assure best coordination among teams and efficient utilization of resources.
- CEO hires or picks among his/her colleagues the best people to put them in senior management positions of the company. Not all the direct reports of CEO after being hired or promoted are immediately fully capable. CEO thus acts the coach and mentor to his/her direct reports to help them to improve their efficiencies.
- The key value of a company lies in its culture, which always set and inspired by its leader.
- CEO is the representative, the spokesman of the company in outside community.